XML 15 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 422,971 $ 573,383
Restricted cash and investments 301,716 250,705
Short-term investments 12,843 24,965
Premiums, commissions and fees receivable 736,378 546,402
Reinsurance recoverable 98,516 477,820
Prepaid reinsurance premiums 344,955 321,017
Other current assets 95,799 47,864
Total current assets 2,013,178 2,242,156
Fixed assets, net 89,772 77,086
Goodwill 2,929,634 2,716,079
Amortizable intangible assets, net 680,226 641,005
Investments 17,152 13,949
Other assets 72,844 57,275
Total assets 5,802,806 5,747,550
Current Liabilities:    
Premiums payable to insurance companies 732,550 685,163
Losses and loss adjustment reserve 98,475 476,721
Unearned premiums 344,955 321,017
Premium deposits and credits due customers 107,788 91,648
Accounts payable 84,228 64,177
Accrued expenses and other liabilities 234,731 228,748
Current portion of long-term debt 30,000 120,000
Total current liabilities 1,632,727 1,987,474
Long-term debt less unamortized discount and debt issuance costs 832,361 856,141
Deferred income taxes, net 284,330 256,185
Other liabilities 113,980 65,051
Shareholders’ Equity:    
Common stock, par value $0.10 per share; authorized 560,000 shares; issued 286,961 shares and outstanding 276,074 shares at 2018, issued 286,929 shares and outstanding 276,210 shares at 2017 - in thousands. 2017 share amounts restated for the 2-for-1 stock split effective March 28, 2018 29,011 28,692
Additional paid-in capital 525,465 483,730
Treasury stock, at cost at 10,887 shares at 2018 and 10,719 shares at 2017, respectively - in thousands. (397,572) (386,322)
Retained earnings 2,782,504 2,456,599
Total shareholders’ equity 2,939,408 2,582,699
Total liabilities and shareholders’ equity $ 5,802,806 $ 5,747,550